• Green Lake Real Estate: A look at 2014

    Green Lake Real Estate: A look at 2014
    Green Lake TrialIn Seattle, Green Lake seems to be the hub in so many ways.  Enjoy an easy commute by car, bus, bike, or foot in any direction.  Of course there is the 3.5 mile radius lake: a plethora of activity.  From divers jumping off the high dive in the summer to husky dogs pulling a skateboarder around the paved portion of the lake.

    It’s an awesome place to live, for sure.  Over the last 5+ years, I’ve noticed many homes getting tasteful facelifts from the 1920’s original craftsman  build.  And some are just simply getting demolished and a new construction home waiting in the wings.   I refer to these sleek 10′ ceiling homes as “boxes”.  But that’s a whole other blog post for a different time.

    Let’s look back at the first 41 days of 2014 in the Green Lake area.  737 North 81rst Street

    A grand total of 20 single family homes have had activity:  17 are active, 1 pending, and two sold.    Of the active properties, all are new of this year with the exception of four.  This tells me the inventory is still extremely tight with less than two months of inventory indicating a seller’s market…still.  The median price is hovering around the $410k to $417k mark.  The highest home on the market right now is listed for $1.250,000 and indeed it’s one of the new construction “box” homes.  The lowest priced home is listed at $295,000.

    Sellers are still initiating a review period of about 6 days before accepting an offer.  Most sellers have 6, 7, …30 offers to choose from.  And I’m not kidding about the 30 offers on one Queen Anne home.

    So what does this all mean if you’re a buyer?  Cash is still king.  Start $50k under your maximum target price.  Waive as many contingencies as you can.  And get with a Realtor who is up to speed on the market and looking at properties full time because with only six days to locate, look, inspect, and write a solid offer – it’s easy to overlook a great home and a great opportunity especially when there is more than one buyer and one property listed.

    If you’re interested in knowing more about Seattle Real Estate in the most popular neighborhoods, give us a call or shoot us an email.  We’re here to give you the tools you need to prepare for this Seattle market.  We have many folks eager to share their experience with us – just ask us for our referrals.

    courtney@cooperjacobs.com. 206-850-8841

    More properties can be viewed at Cooper Jacobs Real Estate.

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